Rural District, TIPS Final Rules on Tap for Feb. 21 NCUA Board Meeting
The NCUA Board will vote on two final rules during its Feb. 21 meeting, one that will expand the definition of “rural district” for field of membership purposes, and a second rule that will grant credit unions the ability to invest in Treasury Inflation Protected Securities.
The board will also consider the NCUSIF’s quarterly report.
The expanded rural district definition, first proposed in September 2012, would increase the current 200,000 person threshold if the area contains less than 3% of a state’s total population.
The TIPS proposed rule was also introduced in September. During that meeting, NCUA Associate General Counsel Frank Kressman told the board that TIPS pose no risk to principal, saying the value would never fall below the original investment.
The board’s open meeting is scheduled for 10 a.m. at the NCUA’s Alexandria, Va., headquarters. Following the open meeting, a closed door session will involve a final rule that will add supplemental standards of ethical conduct for NCUA employees.